Monday, January 12, 2009

The economics of Phishing – working fast food could earn you more - Security

Microsoft Research has published a new report that takes an interesting look inside the criminal business of Phishing. Written by Cormac Herley and Dinei Florêncio, the report explains the economics behind the criminal enterprise, and paints a picture that is in stark contrast to what many analysts have reported in the past.

“Conventional wisdom is that Phishing represents easy money,” is how the report starts. The headlines have grabbed the attention of the masses time and time again. The headlines report that criminals -- who are often falsely labelled as hackers by the media -- are making money hand-over-fist thinks to a form of scam called Phishing.